{"id":138405,"date":"2023-09-02T03:51:10","date_gmt":"2023-09-01T22:21:10","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=138405"},"modified":"2023-09-02T03:51:10","modified_gmt":"2023-09-01T22:21:10","slug":"bitcoin-soars-in-argentina-as-javier-milei-wins-presidential-primary-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-soars-in-argentina-as-javier-milei-wins-presidential-primary-crypto-news\/","title":{"rendered":"Bitcoin soars in Argentina as Javier Milei wins presidential primary – Crypto News"},"content":{"rendered":"

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The\u00a0price<\/a>\u00a0of Bitcoin (BTC) has jumped to a fresh high in Argentina since the news that Bitcoin-friendly presidential candidate Javier Milei won a primary election on Aug. 13, with 1 BTC reaching a value of 10.2 million Argentine pesos (ARS) on Aug. 14, according to data from CoinGecko.\u00a0<\/p>\n

While global cryptocurrency markets are experiencing a notable slump, some parts of the world are still recording new all-time highs for Bitcoin. In Argentina, Bitcoin has seen a sharp climb this week, with BTC rallying 21% from 8.4 million ARS to 10.2 million in less than one hour on Monday.<\/p>\n

Bitcoin versus the Argentine peso seven-day price chart. Source: CoinGecko<\/em><\/figcaption><\/figure>\n

At the same time, Bitcoin has been steadily gaining value against ARS since late 2022. According to CoinGecko, Bitcoin has surged more than 210% versus the Argentine peso since Aug. 17, 2022.<\/p>\n

Since hitting a new record high, BTC price versus ARS has dropped slightly. At the time of writing, Bitcoin is trading at 9.9 million ARS, down around 3% from its all-time high levels.<\/p>\n

The most recent Bitcoin\u2019s rally in Argentina has been attributed to the presidential primary win by pro-Bitcoin presidential candidate Javier Milei. After winning the primary with more than 30% of votes, Milei is now the front-runner in Argentina\u2019s general election in October.<\/p>\n

Related: <\/em><\/strong>Robert F. Kennedy Jr. vows to back US dollar with Bitcoin if elected president<\/em><\/strong><\/a><\/p>\n

As previously reported, Milei wants to abolish the central bank<\/a> and adopt the U.S. dollar as Argentina’s currency. The presidential candidate also believes that Bitcoin is a reaction against \u201ccentral bank scammers,\u201d while fiat currency allows politicians to scam Argentines with inflation.<\/p>\n

Argentine pro-Bitcoin presidential candidate Javier Milei. Source: El Pa\u00eds<\/em><\/figcaption><\/figure>\n

While Bitcoin has been at its record highs in Argentina recently, the cryptocurrency has been on the decline in global markets.<\/p>\n

Since Aug. 14, Bitcoin has lost<\/a> 3.7% of its value versus the U.S. dollar, dropping below the psychological mark of $29,000 on Aug. 16, according to CoinGecko. The cryptocurrency has been gradually tumbling over the past 30 days, dropping nearly 5% over the period at the time of writing.<\/p>\n

Bitcoin versus USD seven-day price chart. Source: CoinGecko<\/em><\/figcaption><\/figure>\n

Argentina is not the only country that has seen Bitcoin price at its highest historic levels amid massive inflation recently. Bitcoin has also been trading near all-time high levels in countries like Turkey, which reportedly saw<\/a> its inflation rate rising to nearly 50% in July 2023.<\/p>\n

In July, Bitcoin climbed to the highest level versus Turkish lira (TRY), reaching a value of 819,000 TRY per 1 BTC, according to data from CoinGecko.<\/p>\n

Magazine: <\/em><\/strong>Big Questions: Did the NSA create Bitcoin?<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The\u00a0price\u00a0of Bitcoin (BTC) has jumped to a fresh high in Argentina since the news that Bitcoin-friendly presidential candidate Javier Milei won a primary election on Aug. 13, with 1 BTC reaching a value of 10.2 million Argentine pesos (ARS) on Aug. 14, according to data from CoinGecko.\u00a0 While global cryptocurrency markets are experiencing a notable […]<\/p>\n","protected":false},"author":2,"featured_media":138406,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-138405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=138405"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138405\/revisions"}],"predecessor-version":[{"id":148091,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138405\/revisions\/148091"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/138406"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}